USD/CHF: 1.2480 Found But Move Higher Encounters Offers

The USD/CHF drift higher has seen 1.2480 print but as we noted earlier offers into this level were left on various order books to limit any further appreciation in the pair into late European trading. As a result, these offers are now being absorbed but should the price run higher then a return towards the next batch of offers will be looked for, around 1.2490 back to the 1.25 area.